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Stronger-than-expected US non-farm payrolls

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 November 2020
The number of jobs created increased, pushing the unemployment rate lower

After yesterday’s higher-than-expected unemployment claims, markets made their peace as they believed that the non-farm payrolls would be lower than forecasted.

The US Bureau of Labor Statistics proved them otherwise, showing that in the past month, 638,000 new jobs have been created, pushing the unemployment rate at 6.9%. The markets were looking for 595,000 jobs and an unemployment rate of 7.7%.

With an overall number of payrolls from May until now of roughly 12 million, there are still 10 million jobless people.

This comes after the US has reported more than 100,000 cases of COVID-19 infections.

However, the focus is now on the presidential election. Joe Biden and Donald Trump are looking to claim key states like Georgia, Nevada, and Arizona.

Meanwhile, USA30 lost 0.2%, while USA500 slipped 0.4% and TECH100 inched down 0.7%.

Sources: forexfactory.com, cnbc.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.